What is the maximum fine for administrative violations committed by individuals regarding state audit sector in Vietnam?

What are remedial measures for administrative violations in state audit sector in Vietnam?

Pursuant to Article 6 of the Ordinance prescribing penalties for administrative violations against regulations on state audit in 2023 (effective from 01/05/2023) stipulating penalties and remedial measures for administrative violations in state audit sector in Vietnam as follows:

Penalties and remedial measures

1. When committing any administrative violation in state audit sector, the violating entity shall be liable to one of the following primary penalties:

a) A warning; or

b) A fine.

2. Remedial measures imposed for administrative penalties in state audit sector include:

a) Enforced correction of false, inaccurate or untruthful information, documents or data;

b) Enforced transfer of any illegal profits earned from administrative violations in state audit sector to state budget.

As regulations above, remedial measures imposed for administrative penalties in state audit sector include:

- Enforced correction of false, inaccurate or untruthful information, documents or data;

- Enforced transfer of any illegal profits earned from administrative violations in state audit sector to state budget.

What is the maximum fine for administrative violations committed by individuals regarding state audit in Vietnam?

Pursuant to Article 7 of the Ordinance prescribing penalties for administrative violations against regulations on state audit in 2023 (effective from 01/05/2023) stipulating the maximum fine for administrative violations committed by individuals regarding state audit in Vietnam as follows:

Fines and power to impose fines

1. The maximum fine for an administrative violation in state audit sector imposed upon an individual is VND 50,000,000; that imposed upon an organization is VND 100,000,000.

2. The fines prescribed in Chapter II herein are imposed for administrative violations committed by individuals. The fine imposed upon an organization is twice as much as that imposed upon an individual for committing the same administrative violation.

3. The fines imposed by the persons specified in Article 16 herein are those imposed upon administrative violations in state audit sector committed by individuals; the fine such a person may impose upon an organization is twice as much as that imposed upon an individual.

As regulations above, the maximum fine for administrative violations committed by organizations regarding state audit in Vietnam is VND 100,000,000.

What are audited units in Vietnam?

Pursuant to Article 55 of the Law on State Audit Office of Vietnam in 2015 stipulating audited units in Vietnam as follows:

Audited unit

Audited units include:

1. Ministries, ministerial agencies, Governmental agencies, and other central regulatory agencies.

2. Agencies assigned to execute state budget receipts and expenditures at various administrative levels.

3. The People’s Councils, the People’s Committees, other local regulatory agencies

4. Units of the People’s armed forces.

5. Units in charge of management, use of national reserve; off-budget financial fund.

6. Political organizations, socio-political organizations, socio-political-professional organizations, social organizations, socio-professional organizations using funding provided by the State.

7. Public service agencies.

8. Organizations in charge of national property management.

9. Management boards of projects whose funding is provided by or derived from state budget.

10. Enterprises over 50% charter capital of which is held by the State. With regard to enterprises ≤50% charter capital of which is held by the State, State Auditor General shall decide appropriate audit targets, criteria, contents, and methods where necessary.

11. Units receiving subsidies from the State, units whose debts are guaranteed by the State other than enterprises that manage, use state capital and/or state property. These units may hire audit firms; audit firms must carry out the audits in accordance with the state audit standards and procedures, then send audit reports to SAV.

12. Agencies in charge of managing, using public debts.

As regulations above, audited units include:

- Ministries, ministerial agencies, Governmental agencies, and other central regulatory agencies.

- Agencies assigned to execute state budget receipts and expenditures at various administrative levels.

- The People’s Councils, the People’s Committees, other local regulatory agencies

- Units of the People’s armed forces.

- Units in charge of management, use of national reserve; off-budget financial fund.

- Political organizations, socio-political organizations, socio-political-professional organizations, social organizations, socio-professional organizations using funding provided by the State.

- Public service agencies.

- Organizations in charge of national property management.

- Management boards of projects whose funding is provided by or derived from state budget.

- Enterprises over 50% charter capital of which is held by the State. With regard to enterprises ≤50% charter capital of which is held by the State, State Auditor General shall decide appropriate audit targets, criteria, contents, and methods where necessary.

- Units receiving subsidies from the State, units whose debts are guaranteed by the State other than enterprises that manage, use state capital and/or state property. These units may hire audit firms; audit firms must carry out the audits in accordance with the state audit standards and procedures, then send audit reports to SAV.

- Agencies in charge of managing, using public debts.

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